Amanda Wilson, managing director and head of distribution for the U.S. and Canada institutional and consultant relations at Principal Asset Management, has seen an increase in the number of women entering asset management over her 20-plus years in the industry. But she said “significant gaps” still exist at the senior level and in areas like sales and investment leadership.
“We should each play a role in demanding more diversity in our candidate slates, hiring and promotion practices, industry events, and stages,” she said. “As our institutional client base continues to diversify, it is just as important for advisers and asset managers to have talent that is equally representative.” It is also crucial to “create a culture that systematically, personally, and intentionally promotes diversity,” Wilson observed.
Wilson joined Principal in August 2018 and overhauled the firm’s North American institutional business after spending 15 years at J.P. Morgan Asset Management’s institutional business.
Wilson said she has faced some unconscious bias as a woman in the industry.
“To overcome these challenges, I have leaned on both my technical skills, such as pursuing my CFA certification early in my career, and interpersonal skills in sales and consensus building,” she said. “Additionally, I have leaned on my network of mentors and advocates, who have provided valuable guidance and support to help me overcome challenges and aid in my success.”
In addition, having role models, mentors and advocates is key to advancing one’s career.
“Role models are important because they allow you to see yourself in roles and places that historically haven’t ‘looked’ like you,” she explained. “Mentors provide advice, help you understand issues, relate to your experiences and brainstorm solutions. Advocates are crucial for pushing the needle forward, especially when you aren’t in the room.”